Market Research Reports : According to a new market report published by Transparency Market Research “Audiological
Devices Market (Hearing Aids, Cochlear Implants, Bone Anchored Hearing
Aids, Audiometers, Tympanometers and Otoscopes) -Global Industry
Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018,” the
global audiological devices market was valued at USD 6.2 billion in
2011 and is expected to grow at a CAGR of 4.9% from 2012 to 2018, to
reach an estimated value of USD 8.6 billion in 2018.
global audiological devices market is expected to have a steady growth
of 4.9% from 2012 to 2018 owing to the aging population and related rise
in prevalence of hearing loss, increasing technological advancements in
digital hearing aids and newer forms of hearing devices. The rise in
incidence of hearing impairment in both children and adults, and
occupational, nerve and congenital deafness, generates a large patient
pool to be dispensed with hearing aids. The rise in demand for hearing
aids with an aesthetic appeal such as invisible-in-the-canal hearing
aids, is also expected to fuel the growth of this market.
market for hearing aids accounted for the largest share of the total
audiological devices market, whereas the cochlear implants market is
expected to witness the highest growth during the period of forecast.
Exhaustive product portfolios offered by manufacturers, favorable
reimbursement policies and efficient sales and distribution networks
laid by manufacturers drive the growth of the market for hearing aids.
BTE and ITE are the most popular types of hearing aids due to their ease
of use, efficiency in treating a wide extent of hearing loss, comfort
level, connectivity and cosmetic preferences of consumers.
was the largest geographical market for audiological devices in 2011
because of the rise in the prevalence of deafness and increase in
awareness about technological advances. Despite the financial upheaval
going on in Western Europe, the European audiology devices market will
continue to grow at a steady rate as several countries will continue to
offer considerable level of reimbursement to patients. In terms of
growth rate, the Asia-Pacific region will register the highest CAGR of
about 7% during the forecast period. Promotion of the benefits
associated with the use of hearing aids and intensive customer and
consumer education conducted by major market players will also drive the
increase in adoption of hearing aids in this region.
global market for audiological devices is consolidated in nature and
has few key players that account for the highest market share. Players
such as Sonova Holding AG, William Demant Holding A/S and GN ReSound
Group together contribute to more than half of the total market revenue.
The other prominent players in this market are Siemens Healthcare,
Starkey Hearing Technologies and Widex A/S.
The global audiological devices market is segmented as follows:
Audiological Devices Market, by Products
Behind-the-Ear (BTE) aids
Receiver-in-the-Ear (RITE) aids
In-the-Ear (ITE) aids
Canal hearing aids (In-the-Canal(ITC), Completely-in-Canal(CIC) and Invisible-in-Canal (IIC))
Analog hearing aids
Digital hearing aids
Bone anchored hearing aids
Audiological Devices Market, by Geography
Rest of the World (RoW)
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